Expats in the British Virgin Islands
With a subtropical climate and the Caribbean Sea as a setting, the British Virgin Islands are the perfect location for expats that want to have a choice of multiple islands to live upon. Positioned just east of Puerto Rico and settled in the Caribbean Sea, the British Virgin Isles support trade winds that can offer gentle breezes, as well as hurricanes. It is a tradeoff that will need to be considered for anyone that wants to become an expat British Virgin Islands.
One of the primary things an expat needs to be familiar with is the cost of living. Housing is a major topic and should be researched well before relocating to any new country. If you wish to purchase verses renting a home, real estate in the British Virgin Islands is quite forthright. All contracts are respected by the government. The cost of renting an apartment or studio apartment per month starts at $800 dollars and can go up to $1200 dollars. Most three bedroom houses have a monthly cost of at least $2000 dollars.
The government itself falls under the British Crown and is considered overseas territory. Unlike some countries, Americans only require a passport to visit the British Virgin Islands. Those that enter their borders are allowed to stay a total of six months. More immigration information is available online.
The tax system used among the islands may appeal to an expat British Virgin Islands. It has long been considered a tax haven since there are no inheritance taxes, sales taxes, no capital gains; value added taxes, or capital transfer taxes. The basic type of tax that is charged by the government is income tax. It is normally 15% per person. A 15% corporate tax and an annual licensing fee are due per corporation. This covers most of taxing the government issues with the exception of property taxes levied.
The British Virgin Islands can be a moderate to expensive place to live. The cost of living can be higher on some products than it is in the United States. Since the tourists are a basis for income, the entertainment options tend to be pricier than food, and for expats, that is good news. The islands are a virtual playground when it comes to entertainment. The wide variety of night clubs, bars, beaches and restaurants, leaves you with plenty of options. Shopping in the British Virgin Islands is virtually painless. Without any sales taxes, it is even more enjoyable. Basic necessities are easy to locate in the many shops and boutiques that are clustered among the islands.
Medical care is considered average. The islands have several clinics scattered around, and there is a general hospital, but people who become seriously ill are generally relocated to the United States for treatment. Expats living in the British Virgin Islands are able to purchase private medical insurance plans or travel insurance plans with health care components. Now it is just a matter of relocating to the most stunning tropical islands since you have plenty of information about becoming an expat in the British Virgin Islands.
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